Genie Energy (NYSE:GNE) Posts Earnings Results

Genie Energy (NYSE:GNE) issued its quarterly earnings data on Monday. The oil and gas producer reported $0.27 EPS for the quarter, Zacks reports. Genie Energy had a net margin of 1.82% and a return on equity of 6.40%.

Genie Energy Price Performance

Genie Energy stock opened at $15.07 on Monday. The company’s fifty day moving average price is $15.28 and its 200 day moving average price is $18.38. Genie Energy has a 1 year low of $13.05 and a 1 year high of $28.47. The stock has a market capitalization of $402.58 million, a P/E ratio of 16.04 and a beta of 0.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.85 and a current ratio of 1.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNE. Cubist Systematic Strategies LLC purchased a new position in Genie Energy in the 1st quarter valued at $85,000. New York State Common Retirement Fund lifted its holdings in Genie Energy by 98.3% in the 2nd quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer’s stock valued at $206,000 after purchasing an additional 3,800 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Genie Energy in the 2nd quarter valued at $214,000. Dynamic Technology Lab Private Ltd purchased a new position in Genie Energy in the 1st quarter valued at $239,000. Finally, Franklin Resources Inc. purchased a new position in Genie Energy in the 2nd quarter valued at $245,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GNE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genie Energy in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 6th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Genie Energy has an average rating of “Hold”.

About Genie Energy

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.